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1.
Same as a t-bag, but you chill your balls before putting them on your unsuspecting friend's eye sockets.
"Holy Shit! Nick is so gonna have frostbite on his eyes!"
"Why?"
"Icebag, baby!"
by uchina~ikiga April 25, 2008
 
2.
Icebag is a (male) masturbatory technique in which a ziploc baggie is filled with ice or ice water. When one is pleasuring himself, the cold bag is held against the testicles. Many proponents of this technique claim that it increases both the intensity of the orgasm and the amount of semen ejected from the body.
Date didn't go well last night so I went home and decided it was time for an icebag. Good choice on my part.
by Skeeter McDougal September 29, 2005
 
3.
An Ice Bag is a Meth Head who is also a Douche Bag.
In Moab, UT McDonald's once advertised: "Now Hiring/Ice Bags/$0.99" This message makes it clear that McDonald's considers Methamphetamine users cheap labor.
by kelly1601 July 24, 2011
 
4.
to violently shove a "monkey" and "chicken wings" in your eye socket while geting a lumpkin (lumpkin- to get head while taking a shit)
"dude i totally ice bagged myself last tuesday"
by B-rad C. August 22, 2008